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  • Bit by Bit 9th Feb || Microsoft’s ChatGPT-powered Bing is open for everyone to try starting today. & more

Bit by Bit 9th Feb || Microsoft’s ChatGPT-powered Bing is open for everyone to try starting today. & more

February 09, 2023

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Good Afternoon Readers!

Here are:

"4 amazing stories in 4 minutes to make you future ready"

Happy reading!

MARKET UPDATE

  • NIFTY 50 : ₹17,871.70 (+0.85%)

  • BSE SENSEX : ₹60,663.79 (+0.63%)

  • NIFTY BANK : ₹41,537.65 (+0.11%)

  • USD/INR : ₹82.660 (-0.24%)

  • BRENTOIL : $85.09 (+1.67%)

  • MCXGOLD : ₹57,128 (-0.08%)

  • FII Net Cashflow : - ₹737 crores

  • DII Net Cashflow : + ₹941 crores

(Market Data as of 11:00 PM on 08/02/2022)

BFSI

Key Points:

  • 138 high-value debt-listed businesses' shareholding patterns were examined, and it was discovered that 93 of them had all shareholders who were related parties.

  • Code of conduct, adopting risk management plans for listed businesses, surveillance mechanisms, and restrictions on related party transactions (RPT) are a few of the newly introduced requirements.

  • SEBI is looking for feedback on the suggestions from various participants and stakeholders by February 22.

The Story:

For "high-value" debt-listed businesses, the Securities and Exchange Board of India (Sebi) has released a consultation paper to evaluate the current corporate governance standards.

This follows the recent decline in the value of the Adani Group firms, against whom US-based short seller Hindenburg Research has levelled accusations of corporate mismanagement, stock price manipulation, and high leverage. Sebi stated the justification for reviewing the current standards on the approvals for RPTs: "It is observed that one common factor in major corporate wrongdoings was that they were allegedly carried out by persons with the potential to influence the choices of the company."

By February 22, SEBI is asking various participants and stakeholders for their feedback on the suggestions.

FMCG

Consumer goods, FMCG, and the retail sector anticipate that actions like income tax slab modifications will increase consumption and help them capture a larger percentage of consumer spending. It is anticipated that customers will adapt to the new tax structure and take advantage of it, according to Rajat Wahi, Partner, Deloitte India. This will enable people to spend on travel, shopping, and consumer goods as well as some degree of consumption revival, he continued. Companies that make consumer durables are placing a lot of money on rising disposable incomes to increase sales in the mass-segment.

The amended tax structure is anticipated to stimulate discretionary spending on appliances, according to Kamal Nandi, Business Head and Executive Vice-President of Godrej Appliances. Demand for goods in the high-volume mass market, which has thus far been below pre-Covid levels, may undoubtedly be expected to increase.

TECH

Microsoft’s new ChatGPT-powered Bing experience will be available today for everybody as a “limited preview” on the desktop. You’ll have a limited number of queries that you can use with it, but you will be able to sign up for full access soon.

If you visit Bing.com, you may see some example searches that you can try out if it shows you the new interface. Clicking on them will lead you to a Bing search page with traditional results on the left and a chat window on the right with the AI-generated answer. Until you have full access, you won’t be able to ask follow-up questions or clarify the results. Searching for your query will give you Bing’s traditional search results, despite the homepage using the new chat-style UI.

The company expects to roll out access to millions of people within the coming weeks and a mobile version of the experience. In a blog post about the rollout, Microsoft says it’s “excited to put the new Bing and Edge into the real world to get the critical feedback required to improve our models as we scale.”

Microsoft announced the news just one day after Google revealed that it’s working on a similar AI-powered tool called Bard. The two companies are currently engaged in a heated battle over the future of AI, and this is likely just the beginning.

Anything Interesting

The Story

The researchers and developers of Passivated Emitter and Rear Cell (Perc) solar photovoltaic technology, which has supported the rapid expansion of high-performance, low-cost solar power, were recognized for their achievements.

By enhancing the top and back surfaces of conventional silicon solar cells, the 2023 laureates have significantly increased the energy conversion efficiency of commercially dominating silicon cells over the past 40 years. In order to prevent recombination and reflect "unused" photons back into the silicon to produce more electricity, Perc added an extra layer to the rear surface.

The awardees disclosed their discoveries without seeking a patent because they understood the crucial role Perc technology would play in the advancement of solar energy. This encouraged additional research in the area and reduced production costs, which benefited society as a whole.

Engineers work tirelessly to make the world a better place, according to Prof. Green. "As the effects of our changing environment and depleting ecosystems are felt around the globe, I am deeply convinced that more must be done to lessen our dependency on fossil fuels and maintain the trajectory of human civilization. I'm hoping that the QEPrize victory for Perc technology will inspire a lot of people to explore the potential of renewable energy.